Highmark Federal Credit Union v. Wells Fargo Financial South Dakota, Inc.

WILBUR, Justice.

[¶ 1.] This foreclosure action involves a dispute between two creditors, Wells Fargo Financial South Dakota, Inc. (Wells Fargo) and Highmark Federal Credit Union (Highmark), about the priority of their respective mortgage liens against a property. Both parties assert that they are entitled to first priority. The trial court found that, despite Highmark’s statutory priority, under the doctrine of equitable subrogation, Wells Fargo was entitled to first priority and granted Wells Fargo’s motion for summary judgment. We reverse.

FACTS AND PROCEDURAL BACKGROUND

[¶ 2.] Neil and…